Industrial Weighing Equipment Market Competitive Growth Strategies Based on Type, Applications, End User and Region

Weighing equipment is the instrument used to measure the weight of a product. Industrial weighing equipment is used to measure the weight of various products such as instruments, chemicals, and machines in industries. Industrial weighing equipment is present everywhere in the industry from the initial stage that is raw materials stage to the final stage, distribution of finished products, and its applications across a wide range of industries will continue to uphold demand for the product, ultimately boosting the growth of the global market for industrial weighing equipment.

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Advancements in next-gen technologies have been triggering paradigm shifts in the integral designs of industrial weighing equipment for years, and the trend is likely to persist in the coming future. Leading manufacturers are continually introducing innovative features by integrating advanced weighing technologies such as process weighing technology, and other popular technologies such as the Internet of Things (IoT) and Artificial Intelligence, to make today’s industrial weighing equipment smarter.

Competitive Landscape
  • Avery Weigh-Tronix
  • RADWAG WagiElektroniczne
  • CI Precision Ltd.
  • A&D Weighing
  • Atrax Group NZ Ltd,
  • Avery Weigh-Tronix.
  • Thompson Scale Company
  • Eastleigh Limited
  • Bilwinco AS
  • D Brash &Sons Ltd
  • Sartorius AG Ohaus Corporation
  • Maguire Products Inc.
  • Mettler Toledo International Inc.

The global market for industrial weighing equipment is highly fragmented as the number of smaller companies entering the market is increasing. Nevertheless, leading manufacturers, as well as small industry players, are concentrating on offering utmost levels of accuracy through innovative features, and modifying their strategies to sync with the changing business environments.

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Region-wise Analysis

The industrial weighing equipment market is geographically segmented into seven key regions which are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. Asia Pacific is anticipated to be the fastest-growing industrial weighing equipment market with a CAGR expected to be around 6% in the coming years. In the region, the demand is mainly triggered by increasing applications of weighing technologies in many industrial activities, and thereby, industrial growth is among the biggest drivers of growth for the market in the Asia Pacific.

Sales are also likely to remain healthy in the North American region, as manufacturers are introducing next-generation and technologically advanced ranges of their products under the category of industrial weighing equipment. Tightening quality standards and safety regulations are triggering the adoption of highly accurate and high precision weighing equipment in the industrial setup across the region, and this will incur the trend of product innovation in the industrial weighing equipment market in the Americas.

Region-wise Analysis
  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Segment Analysis

The industrial weighing equipment market can be segmented based on the following:

Product Type

  • Checkweighers
  • Counting Scales
  • Floor Scales
  • Rail Scales
  • Other

End-use Industry

  • Chemicals
  • Manufacturing
  • Mining
  • Food & Beverage
  • Other industries

Stretch Wrappers Market Expanding At 5.8% CAGR; Thriving Food and Beverage Industries Enables Growth

The global stretch wrappers market is forecast to surpass the valuation of US$ 710 Mn by the end of 2031 projects ESOMAR-certified consulting firm Future Market Insights (FMI). Optimizing consumption with respect of resource availability is an area of improvement among market players. Small scale industries which cannot afford costly automatic stretch wrapping machine depend on manual packaging and daily wage labors. Availability of cheap labor in emerging economies is affecting the automatic stretch wrapping market. With rising cost and limited availability of raw materials, the automatic stretch wrapping is expected to grow in upcoming years.  Faster wrapping and reduced transportation or shipping cost benefits offered by automatic wrapping machine will accentuate the market growth.

Surging demand for pallet wrapping from pharmaceutical industries has created a lucrative opportunities for stretch wrappers market growth. Food and beverage sector still remains the largest consumer of stretched wrappers. The growing demand for protected and secure stretch wrapped pallet for safe transportation and stabilization of empty bottles and cans from manufacturing to filling stations will increase the market growth. Stretched wrapper also keeps the bottles clean from contamination. Rising consumer demand for spill and damage proof delivery of product will significantly increase the stretched wrapper market demand.

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“Automatic stretch wrapper is proving to be a game changer in packaging industry as it reduces the overall cost of product and enhances the production capacity. It eliminates the need for skilled labor and can operate 24/7. These capabilities of automatic stretch wrapper machine will positively affect the market growth,” says the FMI analyst

Key Takeaways

  • Italy houses the largest export tendency sector with nearly 300 industrial size companies located in the country. Rising adoption of advance automation and robotic packaging machinery will propel the market growth in Italy
  • Presence of food and beverage products giants in US has significantly boosted the demand for stretch wrappers in the country. Growing preference towards atomized packaging and processing method will positively impact the market growth in US.
  • Flourishing tissue and allied product industries in Germany and rising customer spending on eco-friendly tissues has boosted the stretched wrapper market demand.
  • Competitive pricing and efforts to provide products at lower cost to capture market will boost the stretch wrappers market sales in China. Increasing production capacity of food and beverage and tissue products to cater the surging demand will boost the market demand in China.
  • India is expected to rise as a profitable stretch wrapper market during the forecast period. Rising automation in manufacturing and packaging sector will increase the market demand in India.

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Competitive Landscape

FMI has profiled some of the prominent market players providing stretch wrappers that include Reo-Pack A/S, Orion Packaging Systems LLC, Signode Industrial Group. LLC, Wulftec International Inc., Cousins Packaging Inc., UNITECH SRL, Innova Maquinaria Industrial S.L, DNC packaging Machinery, Strema B.V., FROMM Group, Messersì Packaging S.r.l., Technowrapp srl, Hangzhou Youngsun Intelligent Equipment Co., Ltd., Easypac Systems, PACKWAY INC, Phoenix Wrappers, Inc., Lantech, Inc., Millwood, Inc, Aetnagroup S.p.A., ARPAC LLC, Atlanta Stretch Spa, BEMA SRL, Tosa spa, Movitec Wrapping Systems SL, PAGLIERANI s.r.l., Matco International Gevelsberg GmbH, ATECMAA PACKAGING, Rees Machinery Group Ltd, K M Trivedi Engineering Pvt. Ltd., Multi Pack Machinery Company.

Industry leaders are developing customized stretch wrappers in an attempt to gain competitive advantage. They are expanding their product range by optimizing their production to satisfy the growing customer demands. Strategic acquisition is on the table for as a market expansion strategy among leading players. For instance, Aetnagroup S.p.A. acquired leading packaging machine manufacturers OCME S.r.l., in May 2019.

More Insights on the Global stretch wrappers Market

Future Market Insights, in its new offering, provides an unbiased analysis of the stretch wrappers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the stretch wrappers market with a detailed segmentation on the basis of machine type (turntable, ring, robotic, rotary arm), order type (customized, standard), end use (food and beverage, pharmaceuticals, tissue) across major regions (North America, Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Middle East and Africa (MEA), Japan)

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Key Questions Covered in the Report

  • How will the market for stretch wrappers will expand through 2031?
  • Which top manufacturing companies are leading the global stretch wrappers market?
  • What are the key drivers and trends that will stimulate the stretch wrappers sales?
  • What are the challenges that will affect the sales of stretch wrappers market?
  • Which region will remain the most lucrative throughout the forecast period?
  • What is the impact of Covid-19 on stretch wrappers market?

 

Computerized Maintenance Management System (CMMS) Market 2022 Key Players, SWOT Analysis, Key Indicators and Forecast to 2031

The global computerized maintenance management system (CMMS) market is expected to reach a valuation of US$ 2.75 Mn by 2031. The increasing demand for CMMS software among small and mid-sized businesses and rising adoption of asset monitoring solution in energy and utilities sector are fuelling the demand for CMMS solutions.

A CMMS software enables balancing the resources and maintaining the maintenance costs so that maintenance backlog doesn’t get out of hand. The software captures small repairs that would otherwise go unnoticed and enables maintenance tasks to be properly scheduled, assigned, and prioritized before any major failure occurs.

Within manufacturing plants, every equipment is of a very high cost. If any of these machines or equipment remain idle for a certain period of time, it can impact business operation and profit. CMMS software provides great assistance in manufacturing plants. The software prevents machines & equipment from failure and breakdown. Thus, several large and start-up manufacturing firms are focusing on implementing CMMS software to manage maintenance activities, prevent machine breakdowns, and prepare for future repairs.

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for CMMS solutions. The report tracks the global adoption of CMMS products in 20+ high-growth markets, along with analyzing the impact of COVID-19 on the global adoption of CMMS solutions, along with the pre-COVID and post-COVID market growth analysis.

Increase in the number of manufacturing facilities, and rising demand for enhanced maintenance of operations and rise in adoption of cloud/web-based technologies are some of the key factor propelling the growth of CMMS market globally. The manufacturing segment will remain the key end user in the market, accounting for a share of 30.5% followed by energy and utility segment.

Key Takeaways: Computerized Maintenance Management System (CMMS) Market

  • The global CMMS market is estimated to register a CAGR of 8.7% during the forecast period of 2021-2031
  • The U.S. has remained early adopter of latest technologies. It also exhibits increasing uptake of CMMS software and services, accounting for over 80% of North America market
  • Expansion of energy and utilities sector will drive sales in the U.K., enabling y-o-y growth at 10.1% in 2021
  • China will continue leading the East Asia market on the back of consistently rising manufacturing activities
  • Increasing investment in modern technologies will pave way for expansion in India

 “A CMMS software plays a critical role in an industry’s move from reactive maintenance to proactive to predictive maintenance. Integration of AI and IoT with CMMS solution will create huge opportunities for software vendors” says FMI Analyst.

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COVID-19 Impact Analysis on CMMS Market

The COVID-19 pandemic has clearly divided individual’s needs into essentials and non-essentials. Utilities – electricity, gas, and water – fall firmly in the first category. As these industries are the key part of a nation’s economy, as other industries depend on it to serve the needs of every common man. Power, utilities & renewables (PU&R) companies are continuously focusing on keeping their assets on-line and providing safe, reliable supplies of electricity and natural gas during the pandemic.

Energy and utility providers across the globe are becoming increasingly concerned about the spread of the virus among their employees. This puts a bigger demand and more stress on organizations to take a more aggressive approach to improve worker safety through preventive best practices and proper preparation. In these times, automation of your workflow can really help streamline your operations.

CMMS software tools can help manage sudden changes in operations – like making changes in maintenance schedules or placing an emphasis on facility cleaning – like those that were required after the COVID-19 outbreak. The software manages the auto-routing of work orders to right staff, escalating critical work and having the proper notifications to alert team members, and getting approvals for appropriate work.

These capabilities enable energy and utility organizations to improve operations, deliver critical communication and make sure the work continues – even in a pandemic. Thus, the CMMS market has shown significant growth during the pandemic. Increasing lockdown periods due to COVID-19 pandemic have estimated to motivate the energy and utility organizations to procure CMMS software during the forecast period.

Emergence of Mobile CMMS Software Solutions

The biggest breakthrough in the CMMS software industry is the emergence of mobile CMMS software solution. Energy and utility providers that have implemented the mobile CMMS solutions have achieved 40% improvement in productivity. Working with mobile CMMS software solution increases stability, performance, and functionality.

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Through mobile CMMS, technicians can create, retrieve, update, and close work orders from anywhere. Any smartphone, mobile devices or internet-enabled devices are used to retrieve the CMMS database in real time. Instant access to work orders provides technicians the freedom to prioritize work orders based on location, saving organization time and money. Moreover, it is used to add specific details to a work order from the job site, increasing the accuracy and timeliness of the information being added to the maintenance database.

Who is Winning?

Some of the leading companies operating in the market are IBM Corporation, Rockwell Automation, eMaint (Fluke Corporation), MicroMain Corp., Infor, Maintenance Connection (Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, MPulse Software, FasTrak SoftWorks, CMMS Data Group, Letosys, QuickFMS, Cryotos, SIERRA ODC Private Limited, PiqoTech Software Solutions Pvt. Ltd., and IFS.

Mergers and acquisition remain highly sought-after as market players seek to expand their footprint and portfolio. For instance, in June 2018, Accruent, has acquired Maintenance Connection, a CMMS provider. This development accelerates Accruent’s efforts to help customers gain insight and make data-driven decisions for multi-site facility management.

Business Analytics BPO Services Market Is Expected To Grow At A CAGR Of 13.9% From 2021-2031

According to Future Market Insights (FMI), the business analytics BPO services market is expected to grow at a CAGR of 13.9% from 2021-2031, reaching a valuation of ~US$ 6.2 Bn by the end of 2021. As per Future Market Insights (FMI) rapid technological advancements in the IT & telecom industry have created impressive prospects for growth.

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Currently, most corporate data sources include data generated from enterprise applications with cloud-based, social network data. Organizations are focusing on finding solutions to optimize their business operations, increase their customer base, and improve market share, with an aim to drive long-term productivity.

Business analytics solutions are utilized in the analysis and retrieval of discrete data. They also enable organizations to improve business proficiency and competitiveness, to make strategic decisions and optimize operational cost.

Moreover, with an increase in business data consolidation, outsourcing of big data and analytics services is expected to increase. To meet the growing demand, business analytics service providers are investing in hiring and training programs.

Consultants need to understand specific issues of implementing analytics solutions. Leading service providers are focusing on providing interesting opportunities to consultants, which can include job rotations across different parts of the value chain (consulting, implementation, and support services).

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Key Takeaways: Business Analytics BPO Services Market

  • Demand for data analytics & visualization services are estimated to grow at a robust CAGR of 18.6% through 2031.
  • BFSI applications will consistently increase, driven by demand for analytics for the financial sector.
  • The U.S. will account for over 86% of the North America market by 2031, supported by the presence of major players and several end-use industries.
  • The market in India is expected to progress at a noteworthy CAGR of more than 26% through 2031, supported by increasing investments in the IT and telecom sector.
  • In the U.K., sales are expected to increase at a CAGR of close to 16% over the next ten years, driven by digitalization of small and medium enterprises.

 “As the complexity and volume of enterprise data continues to grow, buyers will look to leverage advanced solutions that utilize machine learning and cognitive capabilities to manage and transform unstructured data. Rising demand for business analytic services has enabled vendors to provide a diverse range of industry-specific solutions, assisting customers to ensure agility and effectiveness of an enterprise’s business processes,” says an FMI analyst.

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COVID-19 Impact Analysis on Business Analytics BPO Services Market

The impact of Covid-19 on the BPO industry is complicated and multi-faceted, and many BPO companies are still implementing changes to adapt to its effects. COVID-19 is an unprecedented crisis that has impacted business models, disrupting business continuity for companies around the globe.

Small businesses are amongst those that were hit hardest by the COVID-19 pandemic. Small business owners are using data analytics to stay afloat during the pandemic. Small businesses are reporting significant growth in analytics for marketing, finance, and customer support departments. Thus, the business analytics BPO services market is estimated to grow around 10.2% to 12.6% Y-o-Y from 2019 to 2021.

Pelvic Floor Stimulators Market Brief Forecast and Analysis by Top Key Players to 2031

Increasing demand for electrical stimulation to treat urinary incontinence is expected to boost the global pelvic floor stimulator market. According to a report by Future Market Insights (FMI), the global pelvic floor stimulator market was valued at US$ 110.4 Mn in 2020 and is predicted to expand at a CAGR of over 8.8% during the forecast period (2021–2031).

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Weakening of pelvic floor muscles, urinary tract infections, menopause, constipation, obesity, and alcoholism are the main causes of urinary incontinence. The rising prevalence of these conditions, added to the growing elderly population, are major drivers for the global pelvic floor stimulators market.

Similarly, a high level of portability and lower costs of mobile devices in contrast to fixed devices or surgical treatments, and progressive therapeutic results and easy access to patients through over-the-counter (OTC) medical channels are expected to drive demand.

Initiatives undertaken by government and non-governmental organizations to create awareness are increasing the demand for pelvic floor stimulators. For instance, the Australian government has started a program “National Continence Management Program.”

The government of Australia also started “The continence aids payment scheme (CAPS).” COVID-19 kicked the pelvic floor stimulators demand into high gear—and this extended to consumers increasing their adoption using online sales channels. However, lack of labor, halt on transportation, and disruptions in the supply chain, has affected device availability and growth prospects for the near future.

Manufacturers are focusing on research and development activities to develop unique and technologically advanced devices with rechargeable functionality. In March 2019 InControl Medical received FDA approval for a new Attain designed for at-home use to women in the U.S. suffering from stress, urge, mixed urinary incontinence or bowel incontinence.

Key Takeaways from Pelvic Floor Stimulator Market Study

  • Electrical stimulators will reflect a revenue share of more than 66% with a CAGR of 9.1% owing to the high demand for treatment research for urinary incontinence.
  • Urinary Incontinence holds a share of over 75% in 2021, due to the growing geriatric population which is prone to urinary incontinence.
  • The U.K and Germany are leading markets in Europe, cumulatively accounting for over 45% of the regional value share, owing to consumer reliance on technology for health information.
  • Driven by a matured healthcare and research sector, the U.S., will account for more than 78% of the North America market by 2031.
  • China is a high potential market reflecting a 9.9% CAGR, driven by a rapidly growing consumer demographic of geriatrics.

 “Increasing prevalence of pelvic floor disorders and subsequently rising increasing awareness about the benefits electrical stimulation in the treatment of urinary incontinence are driving the adoption pelvic floor stimulators on a global scale through 2031,” says the FMI Analyst.   

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Key Participant Insights

Key players in the market are focusing on strategic collaborations, acquisitions, and expansion. Furthermore, product launches, agreements and research sponsorships are key strategies adopted by manufacturers to expand their research and development capabilities, while increasing their sales by strengthening product portfolios in the pelvic floor stimulator market.

In August 2020, Medtronic expanded leadership to launch InterStim Micro Neurostimulator and InterStim SureScan MRI Leads, for treating bladder and bowel control conditions.

Global Baby Diaper Market Is Expected To Reach A Valuation Of US$ 63.67 Bn By 2021

The baby diaper market is set to grow, especially as manufacturers increasingly focus on innovations to offer greater customer satisfaction. According to a study by Future Market Insights (FMI), some of the leading manufacturers are focusing on ensuring bio-degradability in order to ensure products are recyclable. Driven by these developments, the market is expected to reach a valuation of US$ 63.67 Bn by 2021.

Unlike bio-degradable diapers, regular diapers don’t degrade well in a landfill. Also, disposable diapers require around several years to disintegrate. The tremendous amount of untreated waste added to the landfills consistently through plastic diapers can contaminate the groundwater. Coupled with this, rising climate concerns represents a key factor propelling the demand for bio-degradable diapers.

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Disposable diapers comprise many synthetic compounds that can adversely affect wellbeing. These includes sodium polyacrylate, dioxins, tributyl-tin, dyes, volatile organic compounds, and other chemicals. These synthetic substances may cause tingling and different medical issues such as respiratory problems, cancer, hormone interferences, and several other health problems to an infant.

With consumers increasingly focusing on eco-friendly buys, the demand for biodegradable or reusable baby diapers is expected to surge. In addition, cost-effective pricing of products, presence of a relatively untapped market for bio-degradable baby diapers in underdeveloped and developing countries, and rapid urbanization are other factors expected to propel bio-degradable baby diapers sales over the forecast period.

Thus, increasing awareness on negative impact of these chemicals and baby hygiene among individuals shifting the consumer preference towards bio-degradable diapers. Subsequently, organizations are investing in R&D to ensure impact of products on the climate is zero to minimal. According to FMI, despite the dominance of disposable diapers, the reusable baby diapers sales will rise at 5.1% CAGR between 2021 and 2031.

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Key Takeaways from the Baby Diaper Market Study

  • Baby diapers sales will rise consistently. FMI forecasts the market to exhibit 5% CAGR between 2021 and 2031
  • The U.S. showcases high focus on offering best possible baby care. It therefore accounts for 80% of baby diapers sales in North America
  • Despite sluggish growth registered amid pandemic, the U.K. market will recover, exhibiting 4.6% y-o-y growth in 2021
  • Germany and Spain will emerge as other key markets for sales within Europe
  • China will remain a key market for baby diapers sales in East Asia, as consumers show higher willingness to spend on advanced baby care. Japan will follow closely, emerging as second-leading market

“Companies are focusing on penetration in rural areas to capitalize on untapped opportunities. They are therefore increasingly investing in various awareness campaigns to educate widely scattered demography of prospective buyers about the benefits of baby diapers for the health and wellbeing of their children,” says an FMI analyst.

Impact of COIVD-19 & 2020 Market Analysis

The COVID-19 outbreak resulted in the imposition of lockdowns in various nations that has considerably affected the net sales and production of baby diapers. Companies were unable to operate across the world, which in turn has impacted baby diaper demand severely. Besides this, travel restrictions adversely impacted operations within the market.

With second and third wave of pandemic on card, baby diaper companies are extending various offers on bulk purchase of baby diapers. With situation predicted to recover in the coming days, the baby diapers sales will rise in the near future.

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Who is winning?

Some of the key players operating in the Baby Diaper market are Kimberly-Clark Corporation, Procter & Gamble Company, Kao Corporation, Unicharm Corporation, Cardinal Health Inc., Ontex International N.V., Bambo Nature USA, PAUL HARTMANN AG, C. R. Bard, Inc., Aleva Naturals (D&G Laboratories Inc.), B. Braun Melsungen AG, Babyganics (S.C. Johnson & Son Inc.), Bambino Mio Ltd., Bambo Nature USA (Abena Group), The Honest Company Inc., Bumkins, Charlie Banana USA LLC, ConvaTec Inc., Earth’s best (The Hain Celestial Group, Inc.), ECOABLE, Seventh Generation, Inc., Flip Diapers (Cotton Babies, Inc.), Fujian Hengan Group Ltd., Fujian Yifa Healthcare Products Co., Ltd., GeffenBaby.com, GroVia, Hengan International Group, Medline Industries Inc., Mega Soft (Fujian) Hygiene Products Co., Ltd., and Naty AB among others.

Ring Lights Is Expected To Top US$ 6.9 Bn In 2021 And Will Register Exponential Growth At 14.3% CAGR Between 2021 And 2031

The ring lights market is forecast to witness high growth with the mounting popularity of smart technologies, innovations and multi-functional product offerings. Future Market Insights in its latest study has forecast the market to rise at a CAGR of ~14.3% between 2021 and 2031.

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The ring lights market is greatly influenced by the growing concerns associated with environment conservation. Across the globe, conservation of energy is considered as a critical issue, and smart and efficient ring lighting makes important contributions to energy savings.

Manufacturers are focusing not only on developing innovative product features, but also on effectively developing sales and distribution systems. Manufacturers are coming into strategic alliances with Amazon, Flipkart, Alibaba and other e-commerce platforms to have a wider reach.

Most consumers are focusing on online product research prior to purchase. As a result, manufacturers are increasing their presence in online sales channels. Moreover, popular ring lights are coming out with unique features including dimming settings, flexible arms, portable shapes and sizes, brightness adjustments, extra-long power cords, low heat output, and connectivity with mobile phones. These multifunctional product offerings are further anticipated to fuel growth of the ring lights market in the coming years.

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Key Takeaways from the Ring Lights Market Study

  • Ring lights with stand are expected to hold over 39% of the market in 2021 owing to their stability and ease of use.
  • Smart/automatic technology is expected to contribute revenue share of more than 60% in 2021 driven by incorporation of advanced remotes or sensors.
  • Japan will lead East Asia market with a share of 54.5% in 2021. Growth in Japan is propelled by large scale manufacturing and faster access to associated technology.
  • Germany holds over 22% of the Europe market, supported by the presence of a matured manufacturing sector.
  • Canada market is exhibiting high potential for growth in North America, rising at 18.9% CAGR through 2031ntry.

“The incorporation of timers, remotes, LED lights and other features by ring lights manufacturers are emphasized on improving the quality and performance of their products. Some of the market players are even investing in interesting designs and integrating newer technologies for multi-function applications, which will support sales prospects in the long term,” says an FMI analyst.

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Impact of COVID-19 on the Market

The COVID-19 pandemic, has had a notable impact on the ring lights. The closing of retail outlets, restrictions on pricing and marketing, and curfews in many countries around the world have resulted in lower sales volumes. However, the end of lockdown period saw higher consumer traffic, mostly from the online sales channels.

Furthermore, the COVID-19 pandemic had influenced self-isolated individuals to spend time on social media. This involved various activities, some of which were clicking photographs and video making which has created opportunities for ring light manufacturers to regain and bolster sales through e-commerce platforms.

Who is Winning?

Market leaders are largely focused on aggressive promotional strategies, advertisements, and new product launches, with multifunctional configurations that have driven sales growth of ring lights globally.

Major players present in the ring lights market are Hensel Frontprojection System, Spectrum Aurora, Zhejiang Seming Electronic Co., Ltd., Lylight Electric Co, Limited, Bron Elektronik AG, Shamax Emporium, Shenzhen Jueying Technology Co., Ltd., Smart Vision Lights, Koninklijke Philips N.V., VOLT Lighting, Panasonic Corporation, OSRAM Sylvania Inc., Unique Lighting Systems, and Samsung Electronics Co. Ltd. among others.

Insulin Pens Market Share and Growth Factors Impact Analysis 2031

According to Future Market Insights (FMI), the demand for insulin pens is expected to rise considerably in the coming decade, enabling the market to surpass a valuation of US$ 30,407.5 Mn by the end of 2021.

Insulin pens are used by diabetes patients to avoid problems including cardiovascular diseases that may arise from this lifestyle-based ailment. To overcome problems related to conventional methods of insulin administration, insulin pens make the process easier and faster.

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According to the WHO, approximately 1.2 million deaths were caused due to diabetes in 2019 globally. To reduce the number of deaths or sufferings due to diabetes, the development of innovative techniques and products for the treatment and maintenance of diabetes is essential.

Type 2 diabetes cases are common, but it can be prevented or delayed by a healthy diet, consistent physical activity, maintaining a standard body weight and avoiding the use of tobacco. Diabetes can be treated or managed with medicines and regular checking and treatment. Increasing focus on innovative medical products and research are increasingly driving a transition towards insulin pen by diabetes patients.

Leading manufacturers in the insulin pen market are strengthening their market position through collaborations with various health and research organizations. Governments in developed and developing countries are actively taking initiatives to encourage innovative medical products.

For instance, in November 2020, Medtronic introduced CGM integrated smart insulin delivery pen to manage multiple daily dosage insulin injections. Similarly, Insulet expanded its offering of OmipodDASH into additional countries such as Sweden, Finland, Norway, and Denmark.

Key Takeaways from Insulin Pen Services Market Study

  • Reusable insulin pens are expected to account for over 49% the global market share by 2031, supported by a growing base of environment and cost-conscious consumers.
  • Hospital pharmacies will account for 33.8% of the market share in 2031. The soaring influx of patients for treatment and intensive care support supports growth.
  • The U.S. is projected to be the fastest-growing regional market with a CAGR of 5.6% through 2021-2031 owing to the matured healthcare sector of the country.
  • The U.K. and Germany are leading markets in Europe, accounting for more than 18% and 25% in 2021.
  • China is the largest and fastest growing market in East Asia, exhibiting a 4.7% CAGR through 2031.
  • Australia is leading the Oceania market, accounting for more than 85% of insulin pen revenues in 2021.

“Increasing prevalence of diabetes, technological advancements and rising investments in the healthcare sector will create lucrative growth opportunities for insulin pen manufacturers through the assessment period in 2031,” says the Future Market Insights analyst.

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Who is Winning?

The global insulin pen market is set to expand due to the rising prevalence of type 1 and type 2 diabetes. Leading organizations within the market are set to focus on research and development to offer an early and precise diagnosis of the ailment, besides offering effective patient care.

Some of the leading players in the insulin pen market include but are not limited to NovoNordisk A/S, Sanofi, Eli Lilly, Diamesco Co., Ltd., BigFoot Biomedical, Inc, Medtronic plc, Emperra GmbH E-Health Technologies, YpsoMed AG, and DUKADA Aps.

Spackling Paste Market to witness steady growth during 2021-2031, with a CAGR of around 4.5-5.5%

The spackling paste market is set to witness steady growth during 2021-2031, with a CAGR of around 4.5-5.5%. A spackling paste is a non-porous substance applied on a surface to act as a waterproofing and holding agent and used to fill spaces.

Moreover, a layer of spackling paste over a constructed surface allows users to easily design and apply desired interior designs. The growing construction industry in both residential and commercial sectors is likely to grow the spackling paste market.

The rapidly growing urbanization has led to the fuel of construction activities, growing population, and availability of high spending capacity is driving the demand for spackling paste. Moreover, the advancement in technology and construction developments have eased the production and usability of spackling paste thus, boosting sales.

With time, the cultures and trends in the designing industry keep changing globally, and thus, in order to make necessary changes in residential and commercial sectors drives the demand for premium and affordable spackling paste. In addition, the rising interest for highly water-borne spackling paste across the globe is encouraging manufacturers to supply unique and reliable products.

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The sudden outbreak of the COVID-19 had resulted in severely affecting the global economy and declining the demands for various products due to the rise in unemployment. Moreover, the restricted movement of individuals in commercial areas had led to the decline of maintenance of building thus, hindering the construction industry and affecting the sales of spackling paste.

Growing Demand for Innovative Products and Evolving Trends to Boost Sales

The spackling paste industry has always been impacted by the evolving trends in the construction industry. The growing trends such as rising interest low volatile compounds, growth in the availability of various diversified paints and coats, and more are likely to grow the volume of sales.

In addition, the growing filling equipment market is boosting the demand for spackling pastes that are lightweight, easy to handle and flow with ease. Moreover, the improvement in the packaging machinery and services has led to the rise in demand for spackling compounds that can be easily turned into a paste using water or cement.

U.S. and Canada Spackling Paste Market Outlook

North America is one of the largest markets for spackling paste globally because the construction industry in the countries is the major contributor. For instance, the U.S. economy heavily relies upon the construction industry as it contributes over US$ 1.4 Trillion and thus requires regular maintenance. Therefore, driving the demand for spackling paste industry.

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However, the U.S. construction sector faces a challenging year, however, the change in the mortgage rates tends to help recover the industry by early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction materials, including spackling pastes.

Europe Demand Outlook for Spackling Paste

Initially, Europe was heavily reliant on the western countries for the import of various materials and products and thus, could not match the supply and demand rate. However, the supporting government has helped players to establish their manufacturing plants, and thus, for better maintenance and reliable products, the spackling paste industry is likely to grow and provide innovative products.

Moreover, the high significance of spackling paste over plaster of Paris (POP) is because of its unique characteristics such as a longer life span, stronger holding capacity, and is highly water-resistant. Thus, builders are always seeking innovative products. In addition, according to CPA, the construction industry is likely to grow with a CAGR of over 5.2% in 2022, thus creating a lucrative market for spackling paste industry.

Some of the leading manufacturers and suppliers of spackling pastes include

  • Birla White
  • J.K. Cement Ltd.
  • Terraco
  • Meichao
  • Nippon paint
  • Mapei
  • Saint Gobain
  • Platinum Waltech
  • Dulux
  • SKShu
  • Walplast
  • M.J. Rapoport & Co. Inc.
  • United Gilsonite Laboratories
  • The Shermwin-Williams Company
  • KNP Paints among others.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Spackling Paste Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint.

Feminine Hygiene Products Market Is Set to Experience Revolutionary Growth by 2031

Government initiatives undertaken to spread awareness about women health and menstrual hygiene, besides brand consolidation strategies by leading producers and the adoption of modern lifestyles by women will push feminine hygiene products sales in the coming years.

According to the recent Future Market Insights (FMI) report, the global feminine hygiene products market value is estimated to surpass US$ 27.6 Bn in 2021, with a CAGR of 7.0% during the forecast period (2021-2031).

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Around 49% of the global population is female and nearly 65% of them are aged between 15 and 65 years, thereby indicating a significant opportunity for manufacturers of feminine hygiene products.

Government organizations are focusing on women’s health and hygiene with the help of launch of various awareness programs and funding activities. These programs include detailed education about menstruation, puberty, and the advantages and health benefits of using hygiene products.

They are also providing sanitation kits to girls studying in government schools and colleges in rural areas, particularly in developing economies around the globe. For instance, in 2017, the Department of Education in KwaZulu-Natal (KZN) of South Africa set aside Rs 50 million to fund the distribution of sanitary towels and napkins to various schools in the region.

Additionally, rising female populations in countries such as India, Ghana, and Nigeria will create lucrative opportunities. Concerns regarding disposal, have resulted in the introduction of reusable menstrual cups. These cups are made from medical grade silicon or latex and cost between US$ 20 and US$ 50 per pack and can last for nearly five years. Such innovations will give tailwinds to growth registered in the market.

The impact of the ongoing COVID-19 pandemic on production of feminine products has been negligible despite short term disruptions of transportation and logistics.

Key Takeaways from Feminine Hygiene Products Market Study

  • Sanitary napkins are the largest and fastest growing segment accounting for nearly half of the market by 2031, with a CAGR of over 8%.
  • Supermarket are projected to account for over 22% of the global market by 2031. This is attributed to robust supply channels for consumer health products.
  • East Asia is the largest revenue-generating region for feminine hygiene products, with the China accounting for nearly 81% of the regional market in 2021.
  • Germany holds the lead in Europe, and is expected to accounting for over 18% of the market in 2031.
  • South Asia is the second most lucrative market after East Asia with India accounting for over 75% of the value share in 2031.

“The acceptance of new feminine products among the female population and government support to start-ups will create growth opportunities for manufacturers through the assessment period. Investments in online sales channels will remain key focus for companies in the coming decade,” says the FMI analyst.

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Who is Winning?

Some of the leading manufacturers of the feminine hygiene products market are focusing on mergers and acquisitions for global expansion. Thus, enhancing their market presence. For example,

  • In Jan 2020, the Procter and Gamble focused on digital marketing with advertising associations in countries around the world – like the World Federation of Advertisers, the Association of National Advertisers in the U.S., and the Incorporated Society of British Advertisers in Europe.
  • In October 2020, Kimberly-Clark completed the acquisition of Softex Indonesia. This acquisition accelerated the company’s growth in key personal care categories across Southeast Asia.

The key market players covered by FMI include Procter and Gamble, Johnson and Johnson, the Kimberly-Clark Corporation, Svenska Cellulosa Aktiebolaget SCA, Sanofi S.A, Lil-lets UK Limited, Ontex, Unicharm Corporation, Diva International Inc., and Edgewell Personal Care.